(Image source: Insurity.)
Insurity, a Hartford-based provider of cloud-based software and solutions for property/casualty carriers, brokers, and MGAs, has announced that it is implementing two digital capabilities as part of the Insurity portfolio.
The first capability is Insurity Connect, a low-code no-code integration platform that supports the integration of services between Insurity products and with customer applications and third-party services. The vendor says Insurity Connect uses APIs to orchestrate the needed customer workflow while simultaneously reducing the integration effort and time significantly. The vendor characterizes Insurity Connect as critical to supporting an open insurance ecosystem. The second capability is Insurity Business Intelligence, designed to support the delivery of reporting and analytics to any part of a workflow. Insurity Business Intelligence allows carriers to configure and implement dashboards, operational reporting, and/or analytics to support various processes, according to the vendor.
Insurity’s announcement of the new capabilities notes that carriers are routinely faced with new market challenges, including rising business costs, evolving customer expectations, declining retention rates, and increasing skills gaps and pressure to innovate new products profitably. To stay ahead of competitors and new market entrants, the vendor says that insurers need to quickly integrate solutions and data between internal systems, third-party systems, and data services. Insurity Connect was designed to address that need by providing the integration “plumbing” to plug-and-play new services and data to meet market needs. Property/casualty carriers also need a seamless way to deliver data-driven decisions that provide personalized experiences to policyholders, according to the vendor. Insurity Business Intelligence provides the configuration capability for integrating reporting, dashboards, and analytics information into workflows, Insurity says.
Insurity describes its Sure Underwriting Workbench as an integrated and configurable platform that incorporates these two new digital capabilities along with embedded industry analytics, AI, cloud-native services, and the Data Cloud to enhance user experiences. Insurity says it is embedding these digital capabilities across its portfolio of insurance solutions.
“In the last two years, Insurity has made eight strategic acquisitions to address the rapidly changing needs of our chosen markets as a product-focused organization,” Sylvester Mathis, Chief Insurance Officer, Insurity. “Insurity is evolving its product portfolio to provide advanced digital solutions so our customers can meet and exceed their business goals.”
“Carriers need their technology to be flexible and intuitively responsive to overcome the challenges of a rapidly evolving insurance ecosystem,” Mathis adds. “Insurity’s APIs and micro-services open the digital ecosystem to carriers, while our cloud-native capabilities accelerate the ability to enter new markets quickly.”